Social Media andCrowdfundingPaul Dombowsky & Evelyn So

Time: 8:30 to 10:30am

Speakers: Paul DombowskyFounder and ceo of Ideavibes / Fundchange

Evelyn SoFounder of Noesium

Follow-up: Slides

Workshop Overview

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8:30 Introductions and Format

8:45 Social Media Overview by Evelyn SoExperience from the trenches - what are people experiencingImpact on fundraising efforts

9:15 Crowdfunding by Paul DombowskyWhat is it and how can you use it?Options for engaging a new generation of donorsProject based or ‘doable ask’ focused fundraising

10:00 Fundchange.com – what is it and how can you participate

10:00 Wrap-up and Questions

Agenda

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• A crowd

• Business challenge / problem / question you want answered – ideas

• A process and tool for engagement

• Trust and commitment in your crowd to take action

• Key performance indicators – what does success look like?

• Proof of action – your crowd wants to see what happened

Crowdfunding - what do you need?

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Donor Generations

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Millennials (born ’91 and after) - ?

Gen Y (born ’81-’91) – Avg Donation $325

Gen X (born ’65-’80) – Avg Donation $549

Boomers (born ’46-’64) – Avg Donation $725

Civics (born ’45 or earlier) – Avg Donation $833

Where Donors are Giving

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Checkout DonationFundraising Event

Tribute GiftCharity Gift Shop

Online via WebsiteMailed Gift

Monthly DebitIn Lieu of Gift

PhoneThird Party Vendor

SMSSocial Network Site

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%

“Fundraising Trends and Challenges in the Canadian Direct Marketing Sector”, a research paper from 009 by Cornerstone Group of Companies shows:

• donors who make their first gift to an organization online as opposed to via direct mail have a much higher average gift

$73 vs. $30

• There are now more than 4 times the number of new donors, per organization, from online initiatives than 5 years ago (9M to 40M).”

Online Giving

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Who is your crowd?

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Donors

Prospects

Event AttendeesMailing Lists

Donors’ Network

Prospects’ Network

Event Attendees’ Network

Mailing List’s Network

The crowd you know The crowd you don’t know

Social Media Makes the Connection

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Projects or Doable Asks

• Easier for most people to wrap their head around a smaller project as opposed to a ‘cure’ or a ‘hospital wing’

• Examples:• Piece of medical equipment• Stream revitalization• Education program• Conference attendance• Sports equipment for a couple kids

PostPromoteShareSearch/FilterFundReceiptReport

Costs:$99 + hst to join

includes 2 postings3.9% processing fee

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Examples: Fundchange

PostPromoteFundReport

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Examples: Crowdrise (US only)

• It’s social – the crowd promotes projects it likes• It’s social – the crowd won’t promote projects that aren’t

shareable• Success comes to those that are actively building a crowd • A challenge for organizations new to social media

• It’s the free market at work• It’s the free market at work

• Build stickiness to the project• Need to pay attention to write-up to inspire funders

Benefits & Challenges

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Things to keep in mind: • Crowdfunding success comes quickest to organizations that are social

media aware and engaged. If your organization is not yet social media-enabled, it will take time and human and financial resources to do so.

• Because your efforts are only as good as the crowd you are able to mobilize to your cause, it makes sense that your organization strategically manages and promotes its brand online.

• Make sure your target audience is online and will give online• If you opt to post your projects on established crowdfunding sites, do your

homework – be careful of the company you keep.

Integrating Crowdfunding into your Organization

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• Donor stats, etc. came from “The Next Generation of Canadian Giving” – Nov. 2010 – by Vinay Bhagat, et al

• “The Wisdom of Crowds” – book by James Sudwecki• “Crowdsourcing” – book by Jeff Howe• “Fundraising Trends and Challenges in the Canadian Direct

Marketing Sector”, a research paper released in 2009 by Cornerstone Group of Companies

Resoruces

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Thank you

Paul Dombowsky | 613.878.1681 | paul@ideavibes.comEvelyn So | 647.223.3804 | evelyn.so@noesium.com